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City approves property exchange with Tyson's Warehouse LLC to support roadwork and Tyson expansion
Summary
Council approved a purchase-and-exchange agreement that conveys a 2.54-acre city parcel to Tysons Warehouse LLC for $1 in exchange for a 0.74-acre expansion area conveyed to the city; the city will grade parcels and take possession of fill, and grading must be completed within five years.
The Dubuque City Council voted 7-0 to approve a purchase agreement with Tysons Warehouse LLC that swaps city-owned land for a portion of Tyson's expansion property and sets terms for grading and future road improvements.
Under the agreement, the city will convey a 2.54-acre parcel adjacent to the Butte Industrial Center West to Tysons for $1; Tysons will convey a 0.74-acre portion of its expansion area to the city for $1. The city will complete a mass-grading project on both parcels at no cost to Tysons and will take possession of the graded fill for use in grading South Heacock Road and a future development pad. The grading project must be completed within five years of closing. A city-funded roundabout is planned adjacent to the 2.54-acre parcel; the city agreed to hold Tysons harmless for property damage arising from that construction.
Economic Development Director Jill Connors presented the terms and explained that staff negotiated the swap to facilitate additional right-of-way and infrastructure work immediately east of the parcels. Connors said staff will request funding for the grading project in a future capital improvement program budget because current TIF flows are not yet known.
There were no public comments at the hearing, though later in the public input period Rick Dickinson, president of the Greater Dubuque Development Corporation, thanked Tysons for its partnership and praised the agreement during general public input.
The motion to adopt the resolution passed on a roll call: Jones, Sprank, Resnick, Farber, Cavanaugh, Wethal and Roussell voted aye. The agreement sets a termination date of the June 30 following completion of the mass-grading project.
